Wondering how to make an offer on a house? Whether you’re eyeing a charming house in Old Colorado City or a modern home in Briargate, understanding how to make a strong offer is essential for success in securing your dream home. 

In this blog post, Colorado Springs real estate expert Barb Schlinker and the professionals at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss how to make an offer on a house.

Key Takeaways:

• A strong offer combines the right price with favorable terms, backed by solid financial preparation and professional guidance.
• Timing and presentation matter- submitting a well-prepared offer package can give you an edge in Colorado Springs’ competitive market.
• Understanding contingencies and staying flexible can make your offer more attractive to sellers.

How Do I Make an Offer on a House? – 7 Steps

Step 1: Get Pre-approved for a Mortgage

Before you even start looking at homes, secure a mortgage pre-approval from a reputable lender. Colorado Springs real estate expert Barb Schlinker states,

“In today’s competitive Colorado Springs market, showing up without a pre-approval letter is like bringing a knife to a gunfight- you’re already at a disadvantage.”

A pre-approval letter shows sellers you’re serious and financially capable of purchasing their home. It also helps you focus your search on homes within your budget since it outlines the maximum loan amount you qualify for.

Be sure to choose a local lender who understands the Colorado Springs market and can close quickly when needed.

Step 2: Research and Determine Your Offer Price

To make a fair offer, study recent sales of similar homes in your target neighborhood, whether it’s the family-friendly Rockrimmon area or the bustling Powers corridor.

Your realtor will prepare a Comparative Market Analysis (CMA) to help determine a competitive offer price. They’ll consider the home’s condition, any needed repairs or updates, and current market conditions.

In addition, pay attention to how long homes typically stay on the market in your chosen area and whether they’re selling above or below listing price.

Step 3: Decide on Your Earnest Money Deposit

Your earnest money deposit shows the seller you’re committed to the purchase. In Colorado Springs, earnest money typically ranges from 1 to 3% of the purchase price, though a larger deposit can make your offer stand out.

This money is held in escrow and will be applied to your down payment at closing. Be sure that the purchase agreement clearly outlines under what conditions the deposit becomes non-refundable.

Step 4: Consider Contingencies Carefully

Barb Schlinker explains,

“The key to a winning offer isn’t just about price- it’s about understanding which contingencies are essential and which ones you can safely waive.”

Common contingencies include inspection, appraisal, and financing. In Colorado Springs’ high-altitude environment, you might want to pay special attention to the roof and HVAC systems during inspections.

Consider which contingencies you need for protection and which you might be willing to waive to strengthen your offer.

Step 5: Draft Your Offer Letter

Work with your realtor to prepare a clean, professional offer letter using state-approved contract forms. Include all essential offer details: purchase price, earnest money amount, closing date, contingencies, and any appliances or items you’d like included in the sale.

Be specific about included appliances, especially in higher-end homes where custom appliances might be involved.

Your proposed closing timeline should consider the seller’s preferences- some may want a quick close, while others might need more time.

Step 6: Prepare Supporting Documentation

Gather all necessary documentation to support your offer. This includes your pre-approval letter, proof of funds for your down payment, and any other relevant financial documents.

If you’re offering cash, include recent bank statements or other proof of funds.

In Colorado Springs’ competitive market, having a complete offer package with documentation ready to go can give you an advantage over less-prepared buyers.

Step 7: Submit and Negotiate

Have your realtor submit the offer package to the listing agent promptly. Be prepared for potential counteroffers and know your limits beforehand. In areas like Northgate or Flying Horse, where it’s common for homes to get multiple offers, you might need to act quickly.

Stay firm on your most important terms, but be flexible and have an open mind where you can. Your realtor will guide you through any negotiations, helping you understand when to stand firm and when to compromise.

Remember that making an offer in Colorado Springs’ unique market requires a balance of competitiveness and patience.

Barb Schlinker is the Best Realtor in Colorado Springs

At Your Home Sold Guaranteed Realty - Barb Has the Buyers Team, Barb Schlinker and her entire team have developed proven strategies for selling homes quickly and for top dollar after 27 years in the industry. Her weekly radio show, “Your Real Estate Voice,” demonstrates her deep market knowledge and commitment to educating clients about the selling process.

Barb has helped many clients sell their houses fast and for top dollar and has earned hundreds of five-star reviews over the years. This has earned her the reputation as the best realtor in Colorado Springs.

Plus, Barb’s Colorado Springs real estate agency offers a unique VIP Buyer Program that protects your interests. With this program, you get curated property hotlists, free home-buying resources, and our unique Buyer Satisfaction Guarantee. 

To learn more about buying a house in Colorado Springs with our team, reach out to us today at 719-301-1802 or [javascript protected email address]. We can help you find the best Colorado Springs homes for sale today!

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!